The report discusses the performance of the cryptocurrency market in June 2023. The narrative of ‘institutions are coming’ has driven the market, with several traditional finance firms filing for a Bitcoin ETF, which has fueled positive sentiment. Bitcoin’s dominance reached 58% of the total crypto market, its highest level since April 2021. USDT’s depegging event in June did not harm its dominance, with its market share even increasing to a high of 65.1%. The report also highlights the strides made by zkSync Era, with an 88.9% MoM surge in TVL and surpassing its ‘Optimistic’ competitors in Ethereum mainnet data publishing fees.
- Bitcoin’s Dominance: Bitcoin’s dominance in the market has reached its highest level since April 2021, indicating a strong position for Bitcoin in the market.
- USDT’s Stability: Despite the depegging event in June, USDT’s market share has increased, suggesting its resilience and continued trust among users.
- zkSync Era’s Growth: zkSync Era has shown significant growth, with an 88.9% MoM surge in TVL and surpassing its competitors in Ethereum mainnet data publishing fees, indicating its growing influence in the Layer-2 sector.